Thompson Siegel & Walmsley LLC Sells 11,433 Shares of WEX Inc. (NYSE:WEX)

Thompson Siegel & Walmsley LLC trimmed its position in WEX Inc. (NYSE:WEX - Free Report) by 17.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,503 shares of the business services provider's stock after selling 11,433 shares during the period. Thompson Siegel & Walmsley LLC owned 0.14% of WEX worth $11,641,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WEX. Covestor Ltd boosted its stake in WEX by 233.9% during the first quarter. Covestor Ltd now owns 187 shares of the business services provider's stock worth $44,000 after acquiring an additional 131 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of WEX during the first quarter valued at approximately $338,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of WEX by 0.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 35,375 shares of the business services provider's stock valued at $8,403,000 after purchasing an additional 195 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of WEX by 17.5% during the first quarter. Truvestments Capital LLC now owns 1,819 shares of the business services provider's stock valued at $432,000 after purchasing an additional 271 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in WEX by 0.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 33,186 shares of the business services provider's stock valued at $7,883,000 after buying an additional 154 shares during the last quarter. 97.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $200.00, for a total value of $101,600.00. Following the completion of the transaction, the chief financial officer now directly owns 7,120 shares of the company's stock, valued at approximately $1,424,000. This trade represents a 6.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WEX. Wells Fargo & Company reduced their price objective on shares of WEX from $200.00 to $180.00 and set an "equal weight" rating for the company in a research note on Friday, October 25th. William Blair raised shares of WEX to a "strong-buy" rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on shares of WEX from $210.00 to $200.00 and set a "neutral" rating for the company in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their target price on shares of WEX from $190.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. Finally, Robert W. Baird lowered their target price on shares of WEX from $285.00 to $230.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, WEX currently has a consensus rating of "Moderate Buy" and an average price target of $235.91.

WEX Price Performance

Shares of WEX stock traded up $3.71 during midday trading on Friday, hitting $185.44. 290,634 shares of the company were exchanged, compared to its average volume of 360,613. The firm has a 50 day simple moving average of $196.27 and a 200-day simple moving average of $188.29. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.04 and a quick ratio of 1.04. WEX Inc. has a 52 week low of $165.51 and a 52 week high of $244.04. The firm has a market cap of $7.38 billion, a P/E ratio of 23.38, a PEG ratio of 1.41 and a beta of 1.57.

WEX (NYSE:WEX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $3.82 by $0.53. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $688.03 million. WEX had a return on equity of 31.35% and a net margin of 12.45%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.44 earnings per share. Research analysts forecast that WEX Inc. will post 13.1 earnings per share for the current year.

WEX Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.